Collectivism and Connected Lending

Siwapong Dheera-aumpon

No 57, PIER Discussion Papers from Puey Ungphakorn Institute for Economic Research

Abstract: National culture may affect the prevalence of connected lending. This study aimed to assess the effects of national culture, especially collectivism, on the need for special connections with banks, which is a measure of connected lending. The researcher obtained national culture data from both Hofstede's work and the GLOBE project. Using data covering more than 5000 firms in 51 countries, this study found that GLOBE Institutional Collectivism decreases the need for special connections, while Hofstede Collectivism and GLOBE In-Group Collectivism do not. This suggests that the need for special connections with banks is different from the corruption of bank officials.

Keywords: National Culture; Banking and Finance; Institutional Environment; Collectivism; Firm Financing (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2017-04
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Journal Article: Collectivism and connected lending (2019)
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